05 December 2007

front(lines): green luxury

There is a new study by the World Wildlife Fund stating that the luxury industry is not being green. The WWF report argues that luxury brands are "slow to recognise their responsibilities and opportunities vis-a-vis global warming & ethical trade and [urge] celebrities who help sell the brands to sit up and take note.” The WWF-UK environmental group looked at the world's 10 largest publicly-traded luxury firms and ranked them A to F (best score to worst score). The highest score was a C+ and the ranking was based on reports by the companies themselves to the Ethical Investment Research Service (EIEIS) and on media reports collected on the companies by a Geneva-based research house, Covalence. Here is how they ranked:

   [1] L'Oreal : C+
   [2] Hermès : C+
   [3] LVMH : C+
   [4] Coach : C
   [5] Tiffany & Co. : D+
   [6] Swatch : D
   [7] PPR : D
   [8] Richemont : D
   [9] Bulgari : F
   [10] Tods : F

You might not be familiar with some of these companies, however some own the brands that you probably are more familiar.
  •  L’Oreal: Guy Laroche, Kiehl’s, Lancôme, Paloma Picasso, Ralph Lauren, Shu Uemura, Victor et Rolf parfums, Vichy, Giorgio Armani Parfums and Cosmetics, Diesel Perfumes
  •  LVMH:TAG Heuer, Louis Vuitton, Fendi, Dior, Celine, Donna Karen, Emilio Pucci, Givenchy, Kenzo, Loewe, Marc Jacobs, Thomas Pink, Le Bon Marché, Sephora, Guerlain
  • Swatch: Breguet, Omega, Calvin Klein, Rado, Hamilton, Longines
  • PPR: Gucci, Yves Saint Laurent, Sergio Rossi, Boucheron, Bottega Veneta, Alexander McQueen, Stella McCartney, Balenciaga
  • Richemont: Cartier, Van Cleef & Arpels, Piaget, Chloé, Montblanc, A. Lange & Söhne, Vacheron Constantin, Jaeger-LeCoultre, Baume et Mercier, International Watch Company
  • Tod’s:Tod’s, Hogan, Fay
To learn more about the study and brands, WWF has launched a website called Deeper Luxury. To read the full report click here and for tips as to what you as a consumer can do, click here and here.

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